The Mavericks made reacquiring Chandler one of their priorities after their first-round exit to the San Antonio Spurs. The trade included taking the contract of Knicks guard Raymond Felton, according to ESPN.com.

Chandler, 31, was let go in free agency after the Mavs' championship run in 2011. The former Chicago Bulls top draft pick then signed a four-year, $60 million deal in free agency with the Knicks.

Felton was in a Manhattan court on Monday in hopes of resolving the felony gun case that came about the same time his marriage was breaking up. He is expected to enter his plea on June 30 and receive a $5,000 fine and 500 hours of community service.

The departures of Chandler and Felton are believed to be just the start of a roster overhaul by new Knicks president Phil Jackson.

Jackson is reportedly trying to clear salary-cap flexibility in hopes of convincing Carmelo Anthony to stay. Anthony has opted out of his contract to become a free agent.